Investors cheer Wall Street rally - 28.12.2023

The Dollar weakening is intact currently. The live dollar index data show the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, lost 0.4% Wednesday.

Both GBP/USD and EUR/USD accelerated their advancing on Wednesday. Both euro and Pound are higher against the dollar currently. USD/JPY accelerated its retreating yesterday and AUD/USD continued its climbing with both the yen and the Australian dollar higher against the Greenback currently.

The US stock index futures are higher currently ahead of unemployment claims report at 14:30 CET today. The three main US stock indexes ended higher on Wednesday in the narrow range from 0.1% to 0.3% while data showed that manufacturing activity slowed in December in Richmond area.

European stock indexes futures are up currently after indexes closed higher yesterday with technology and energy stocks leading gains. Asian stock indexes futures are mostly higher today with Hong Kong’s Hang Seng Index leading gains.

Brent is edging up presently. Prices fell yesterday as shipping companies returned to the Red Sea. Major shipping firms such as Maersk and France's CMA CGM have resumed passage through the Red Sea following the deployment of a multinational task force to the region. Today at 17:00 CET the Energy Information Administration will release US Crude Oil Inventories. The US oil benchmark West Texas Intermediate (WTI) futures lost 1.9% but is higher currently. Brent crude fell 1.8% to $79.65 a barrel on Wednesday.